Terra Firma & EMI vs. Citi Trial: No Written Proof
Yesterday during the trial with Citigroup, two Terra Firma employees, Kirsten Randell and Riaz Punja, supported the testimony of boss Guy Hands, that Citi banker David Wormsley had misled him about the 2007 purchase of EMI. "Guy called me up over the weekend and he said, 'I've just had a conversation with David Wormsley and he tells me that Cerberus is in. They will be bidding tomorrow, and they will be bidding a price of 2.62,' " Punja told jurors yesterday.
But the biggest admission came from Guy Hands himself.
The New York Post has reported this iexchange between Citi lawyer Ted Wells and Hands:
'Are you aware of any documents anywhere that reflect that you had a conversation with David Wormsely (about an alleged conversation that stands at the heart of this case) ?....Are there any records of the facts...by you or anyone else ?...
'As you sit on the witness stand, you cannot identify one single piece of paper in the corporate records that reflects that you had a conversation with David Wormsley about his representation that Cerberus was going to bid 262 (pence per share) ?'
'No, I'm not personally aware of any documents,' Hands replied.